Largest 4-Week Winning Streak Since 1933

The S&P 500 has now been up for 4 straight weeks, registering a gain of 23.28%. Interestingly, the last time we had a 4-week winning streak that saw gains of at least 10% was 10/02-11/02, which was the start of the five year bull market that ran until 10/9/07.

Below we highlight all 4-week winning streaks of 10% or more for the S&P 500 going back to 1927. As shown, this is the 3rd strongest 4-week winning streak on record, and the strongest since April 1933. The average change in the fifth week following these 4-week periods has been 0.24%, while the median change has been -0.35%. The average change over the next 4 weeks has been 1.87%. But as highlighted in blue, the only other times the index has gained more than 20% during these 4-week winning streaks, the market has shot significantly higher over the next 4 weeks.